British gambling company Playtech has confirmed that it is having discussions with Flutter about the potential sale of its Italian business, Snaitech. The reported deal could be worth around $2.6 billion. Playtech revealed that Flutter is currently conducting due diligence on the business, and there is a period of exclusivity to finalize the necessary transaction documents.
Snaitech, which is based in Italy, has been performing well, holding a significant market share in the country. In the fiscal year 2023, Snaitech recorded revenue of $1 billion, marking a 5.2 percent increase compared to the previous year. Playtech had initially explored the possibility of selling Snaitech in 2022 but decided to pause those plans when the revenue tripled in the first half of that year.
In Finland, there is a growing concern over the potential conflict of interest arising from the Finnish government’s ownership stake in the gambling monopoly Veikkaus. Finnish Gambling Consultants (FGC) partner Jari Vähänen believes that the government should divest its ownership as it could provide an unfair advantage to Veikkaus once the online gambling market opens up. The Finnish government recently released draft regulations to legalize online gambling and is seeking feedback from stakeholders by August 18.
The Dutch gambling regulator, Kansspelautoriteit (KSA), has issued orders to gambling operators to adhere to payout rules after finding that 13 operators failed to meet the license requirements. A recent investigation revealed that nine online operators were delaying payouts to customers, while four others were suspected of similar behavior. According to Dutch regulations, player payout requests must be processed immediately and unconditionally.
A survey conducted by the European School Survey Project on Alcohol and Other Drugs (ESPAD) showed a decline in underage gambling in Finland since the country raised the age limit for slot machines from 15 to 18 years old in 2011. The survey indicated that the percentage of 15 to 16-year-olds who had gambled on slot machines decreased significantly since the change in the law. Overall, underage gambling in Finland has decreased by 56 percent between 2019 and 2024.
In Lithuania, the gambling industry saw a revenue increase of 12.6 percent in the first half of the year, reaching $126.7 million. This growth was primarily driven by the strong performance of online gambling, which offset a decline in land-based revenue. Online revenue surged by 12.5 percent year-on-year to $79.5 million, with player spending also on the rise. Sports betting revenue in Lithuania increased slightly by 1.6 percent during the same period.
